The Minister of Innovation and Growth, Milena Stoycheva, presented the investment opportunities in Bulgaria to nearly 50 representatives of Turkish companies. Minister Stoycheva and the executive director of the Bulgarian Investment Agency Mila Nenova participated yesterday in Istanbul in a meeting with Turkish business at the invitation of the Turkish-Bulgarian Business Council of the Council for Foreign Economic Relations of Turkey (DEİK). The Consul General of Bulgaria in Istanbul Vasil Valchev also took part in the meeting.
The Minister of Innovation and Growth emphasized the traditionally good commercial and economic relations between Bulgaria and Turkey – the exchange of goods in 2022 will amount to more than 7 billion dollars, and Turkish investments in our country will amount to more than 3 billion dollars.
“Bulgaria is attractive for investments thanks to its macroeconomic and financial stability. The government is making targeted efforts to improve the investment climate in the country,” said Minister Stoycheva. She outlined the measures on which the Ministry of Innovation and Growth is working to optimize administrative procedures and increase the effectiveness of financial incentive measures for investors through the changes to the Investment Promotion Law that are yet to be considered. The new methodology that the Ministry of Innovation and Growth is developing to promote strategic investors and legislative changes for investment screening were also discussed.
“Among the priorities of the ministry is the attraction of high-tech investments and the development of scientific and development activities. Innovations will put Bulgaria on the world map of the countries with the best developed technologies,” said Stoycheva. According to her, the Ministry of Innovation and Growth has identified five areas for intelligent specialization, in which it directs its efforts – information and communication technologies; mechatronics and microelectronics; healthy living, bioeconomy and biotechnology industry; creative and recreative industries, circular and low-carbon economy.
“A number of large companies choose to invest in the creation and development of development centers in Bulgaria, because of the infrastructure and talents. Bulgaria is in third place in terms of IT specialists. We have a huge potential that should be encouraged,” the Minister of Innovation and Growth said. She also presented the financial instruments managed by the Ministry of Innovation and Growth. Stoycheva said that the financial resources available to the ministry encourage businesses in the country to implement innovations and increase production. As an example, the minister pointed out that under the two European programs that the Ministry of Innovation and Growth manages, the funds are over BGN 5 billion.
“Bulgaria is our strategic partner and Turkey’s door to Europe,” said the chairman of the Turkish-Bulgarian Business Council at the Council for Foreign Economic Relations of Turkey (DEİK), Zeki Sarabekir. According to him, our country has logistics potential and information infrastructure that supports trade flows and opens up new opportunities for cooperation.
